NetSol Technologies, Inc. (NASDAQ:NTWK) Short Interest Down 46.6% in February

NetSol Technologies, Inc. (NASDAQ:NTWK) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 7,800 shares, a drop of 46.6% from the February 13th total of 14,600 shares. Based on an average daily trading volume, of 25,900 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on NetSol Technologies in a report on Monday, March 10th. They issued a “buy” rating on the stock.

NetSol Technologies Trading Down 1.3 %

Shares of NASDAQ:NTWK traded down $0.03 during midday trading on Friday, hitting $2.32. The stock had a trading volume of 24,120 shares, compared to its average volume of 23,434. The company has a market capitalization of $27.07 million, a PE ratio of -33.14 and a beta of 1.01. NetSol Technologies has a 1 year low of $2.28 and a 1 year high of $3.34. The stock has a 50 day moving average price of $2.57 and a two-hundred day moving average price of $2.73.

NetSol Technologies (NASDAQ:NTWK) last announced its quarterly earnings data on Thursday, February 13th. The software maker reported ($0.10) earnings per share for the quarter. NetSol Technologies had a negative return on equity of 2.11% and a negative net margin of 1.34%. The business had revenue of $15.54 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NTWK. Squarepoint Ops LLC acquired a new stake in shares of NetSol Technologies in the 4th quarter worth approximately $28,000. Wolverine Trading LLC grew its holdings in NetSol Technologies by 184.8% in the fourth quarter. Wolverine Trading LLC now owns 12,883 shares of the software maker’s stock valued at $36,000 after purchasing an additional 28,083 shares during the last quarter. Perritt Capital Management Inc grew its holdings in NetSol Technologies by 142.3% in the fourth quarter. Perritt Capital Management Inc now owns 50,000 shares of the software maker’s stock valued at $131,000 after purchasing an additional 29,361 shares during the last quarter. Geode Capital Management LLC increased its position in shares of NetSol Technologies by 7.6% in the third quarter. Geode Capital Management LLC now owns 83,386 shares of the software maker’s stock valued at $238,000 after buying an additional 5,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of NetSol Technologies by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 109,247 shares of the software maker’s stock worth $286,000 after buying an additional 4,199 shares during the last quarter. 16.02% of the stock is owned by hedge funds and other institutional investors.

About NetSol Technologies

NetSol Technologies, Inc designs, develops, markets, and exports enterprise software solutions to the automobile financing and leasing, banking, and financial services industries worldwide. The company offers NFS Ascent, a suite of financial applications for businesses in the finance and leasing industry.